Treace(TMCI) GlobeNewswire News Room·2025-04-11 19:03Core Viewpoint - A securities class action lawsuit has been filed against Treace Medical Concepts, Inc. for allegedly misleading statements regarding its business and financial condition, leading to significant stock price declines during the class period [1][4][5]. Group 1: Lawsuit Details - The lawsuit was filed by Scott+Scott Attorneys at Law LLP in the U.S. District Court for the Middle District of Florida against Treace Medical and certain officers/directors [1]. - The class action asserts claims under the Securities Exchange Act of 1934 and SEC Rule 10b-5 for individuals who purchased Treace Medical securities between May 8, 2023, and May 7, 2024 [1]. - The lead plaintiff deadline for the lawsuit is June 10, 2025 [2][6]. Group 2: Company Overview - Treace Medical is a medical technology company focused on surgical management of bunion and related midfoot deformities, with its primary product being the patented Lapiplasty system [3]. Group 3: Allegations Against Defendants - The lawsuit alleges that during the class period, defendants made misleading statements about the company's business and financial prospects, failing to disclose competition affecting demand for the Lapiplasty system [4]. - It is claimed that Treace Medical's revenue declined, necessitating an acceleration of plans to offer alternative products to osteotomy [4]. - Defendants' positive statements about the company's operations were allegedly materially misleading and lacked a reasonable basis [4]. Group 4: Impact on Stock Price - Following the revelation of the company's lowered revenue guidance from 225 million to 211 million on May 7, 2024, Treace Medical's stock price fell by 4.17 per share on May 8, 2024 [5].